Biden announces major climate initiatives, promises additional $50 million to Amazon Fund

Rio De Janeiro [Brazil], November 18: United States President Joe Biden announced major climate initiatives on Sunday in a bid to fight against climate change.
President Biden, who is in Brazil to attend the G20 Summit scheduled to be held on Monday in Rio De Janeiro, visited the Amazon rainforest on Sunday and became the first US sitting president to do so.
Addressing the press after his visit, Biden promised an additional 50 million dollars as a contribution to the Amazon fund. The US has previously contributed 50 million dollars.
During the address, Biden stated that fighting climate change has been a "defining cause" of his administration and made four key announcements to tackle it. He announced that the US development finance corporation will mobilize hundreds of dollars in partnership with a Brazilian company to reforest the Amazon.
He also promised restoration and a bioeconomy finance coalition to mobilize at least 10 billion dollars by 2030 to restore and protect 20, 000 square miles of land in Brazil.
Moreover, he stated that the US will provide funding to help launch Brazillian President Lula's important new initiative 'The Tropical Forest Forever Fund'.
"It is in the interest of all of us. US benefits from it as much as any other country does including here in Brazil," President Biden said.
President Biden outlined that the fight to protect the planet is "literally" a fight for humanity for generations to come.
"I will leave my successor and my country with a strong foundation to build on if they choose to do so. It's true some may seek to deny and delay the green energy revolution that is underway in America but nobody can reverse it," he added.
President Biden's announcement comes with only days left before President-elect Trump takes over the position in January 2025 following his win in the recent US Presidential Polls. During his first administration as President of the US, Trump has not been vocal nor very supportive towards climate causes.
Donald Trump won a second term as President of the United States after securing 295 electoral votes in the 2024 presidential election, defeating Democratic rival Kamala Harris, who garnered 226 votes. Following his victory, President-elect Donald Trump has moved swiftly with finalising his foreign policy and national security team ahead of his formal inauguration in January 2025.
Source: Times of Oman